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. >>> well on come to wourd wide exchange. as is an decide barrels towards the east code, u.s. authorities order thousands to evacuate for the the biggest storm. >> my first message is to all the people across the eastern seaboard atlantic going north that you need to take this very seriously. >> all u.s. stock markets will be closed today. its first weather related closures in 27 years. and shares in ubs rise in the open after reports swiss bank may cut 10,000 investment banking jobs and wind down up to 15 trading businesses. police wen and his family fight back. their lawyers call it untrue and are considering legal action against the "new york times." for our u.s. viewers, the show will be on just one hour this week because europes has gone off daylight savings time, so we're just four hours ahead now of new york time. hurricane sandy is also still several hours away from make landfall, but the impact of the storm is already being felt. transportation has ground to a halt as new york and other major eastern cities have shut down mass transit, airlines canceling flights and
. >> europe went off daylight savings time a week ahead of the u.s. back to full schedule next week. in the meantime, sandy is no longer a hurricane by name, but still making a major impact. storm made landfall monday night along new jersey east koer. still packing hurricane force sandy is expected to weaken, but the rain could linger. already at least ten deaths have been blamed on the storm. u.s. markets will be closed for a second day today. still electronic trading. the last time by the way the new york stock exchange was closed for more than a day because of weather, 1888. when a snowstorm piled up to 40-foot drifts. u.s. refineries had to shut nearly all the east coast fuel supplies ahead of sandy and they'll begin assessing damage today. three of the key six refineries shut down. analysts estimate sandy could cost between $5 billion and $10 billion in ensured losses. it would be the fifth costliest hurricane in u.s. history. sandy could cause more wind and flood damage than hurricane irene did last year. new york city and especially lower manhattan saw its shares of flooding
there as tensions between the two countries intensify. the u.s. government suing the nation's biggest mortgage lender. we'll take a look at how the global industry is faring. then it's off to paris. the stricken car maker is downgraded by moody's a day after demonstrators stage protests. we'll have details from the french capital. and we'll head to new york where there's an appetite for young, profits that is, up nearly a quarter from a year earlier. we'll take a look on a big day for earnings on wall street. and a big week that's coming up. joining us now onset, though, bob mckey. bob, you're here with us, chief economist from independent strategy. i guess let's just begin by talking a little bit about some of these headlines that we're hearing from the imf regarding financial stability. obvious, i guess, to sort of draw attention to this issue, but in your mind, is there still lingering risk out there from the lack of reform, i guess, in some areas of the industry? >> i think what the global stability report is showing -- it's the third report the imf brings out at this semiannual meeting. e
, willing to act was the other phrase he used. he will consider the options and the conditionality, but it wasn't just a decision for spain, it was also a decision about the future of the and you are row, too. and given the perspective of the market, i think you can agree the longer we wait, the higher the risks. >> thanks for that, julia. so just remind you on today's show, we'll be in moscow for the russian investment forum. we'll hear from the deputy. also be in philadelphia to talk kraft. the share at a ten year high. and we'll speak first to the ceo of talix. it has opened higher after the ipo. before that, the rba has surprised the street by cutting to a three year low. the central bank said the move was prompted by several factor, including china slowdown and the high australian dollar. it's widely expected to continue. you've just been in australia. >> i have. i'm still suffering from the consequences of it being a short trip. got back on the weekend. >> what do you make of them obviously being deeply impacted by -- >> well, it was all the rage topic of the two days i was t
suffering the biggest recession. joining us is chris williamson, global chief economist, which puts all that data together. take the german pmis, take your composite pmis, not cheery. >> it's not a good picture, no. the survey is pretty unanimous, saying the zone is going through a tough moment, the worst since 2009. these are really bad numbers. what's interesting is the official data haven't quite caught up with that yet. they're still suggesting a sta stagnation. >> if you were going to translate this into gdp numbers, hard data, what would the read-through be? >> well, we're looking for the region as a whole, a gdp collapse of around 5.6% in the third quarter and that same rate of decline as we go into the fourth quarter. that sort of contraction is what we're seeing at the moment. that matched the pmi reading in terms of how you would look at gdp. so france has joined the periphery, if you like. germany is showing some resilience, but nevertheless -- >> october manufacturing pmi came in this morning -- what was the flash estimate? 45.7. now people are looking for number 48 on that.
beach roots from london, so it's been using the flights to fly into some of those little nations. it seems as though the pursestrings for holiday travelers has certainly being loosened a little bit. let's take a look at what's playing out on debt markets today across the charts. you see prices are moving high. we're still seeing below the 1.5% level. the constant question mark surrounding the official request for aid. but so far yield pressure is still okay. just drifting off that 5% level. across foreign exchange markets today, let's look at the flavor that we're seeing out there. a little bit of appetite still for the u.s. dollar. the trade for the australian dollar has been down since then. so it seems as though that might be a little bit broken. dollar-yen rates fairly stable for a couple days, but still we are seeing story up and down a tenth of a percent. euro/dollar -- 129 and a quarter is the handle. the golden week holiday has been impacting liquidity, although some people really take you off for some of those beach destinations. >> really a lackluster day of trade. the
. now residents belong a long and costly recovery process. >> the u.s. markets are set to reopen after being closed the last few days. the new york mass transit system is still shut down. >>> new sthats now expect profit growth to hit the slowest since lifting. >>> welcome to today's show. the good news is financial markets start trading again. >> well, good news or it depends on how they open. certainly there's people with pent up demand. >> i think whatever happens, the fact that we're back up and trading is a good thing. >> the interesting question is why. but why couldn't the new york stock exchange have gone with its electronic trading systems. will this serve as a catalyst to maybe pursue that route the next time with more confidence. >> it's a day of cleanup. >> yes, it is. millions of people in the northeastern u.s. will spend days or weeks to recover from sandy, which is being blamed for at least 46 deaths. at its peak, more than 8.5 million homes and businesses were without power. new york city and new jersey, especially the jersey shore, were the hardest hit. president obama
headlines. the september u.s. jobs report is up on the mood of investors with data expected to show another month of modest yet unspectacular growth. samsung expects another record quarter of smartphone sales, but analysts say this could be the peak. and the bank of japan holds off on more easing for now, but opening the door to more action later this month. also, spain's finance minister says the country does not need a bailout facing a skeptical crowd in london, but could rajoy be cornered by the leaders of france and italy at a meeting today? i've been away for a couple of days and thanks for whoever filled in. on today's show, planning more sanctions on iran. we'll look at the worsening impact on the panel of experts. larry fink said the u.s. housing market is inching closer to a rebound. we'll hear more from that interview. and can the united states dodge a financial cliff in we'll speak to a guest who has clear ideas of what needs to be done. first it's about the jobs report, unemployment report due out at 8:30 eastern. economists think yet another month of modest job growth, but not
company's performance will not be affected by the outcome of the u.s. election. >>> plus top oil producers forge ahead with ambitious output targets banking on stronger chinese demand. >>> and president obama and mitt romney are set for round two of their presidential debates tonight with the task of winning over undecided u.s. voters. >>> we start to get the into the meat of the week. advancers outpacing decliners by a little more than 6:3. yesterday ftse was up 0.2%, dax up 0.4%. this morning another third percent gains for the ftse 100. c 40 up 0.4%. ibex up about 1.10%. s&p putting a negative outlook on biggest spanish banks. let's show you where we stand. not impacted on the stocks. as far as bond issues are concerned, we have a t-bill auction coming out today in spain. we'll get the results of that in about an hour. 5.82%. spanish yields slightly higher than where we were yesterday. italy is fairly contained. the big test for spain will be on thursday. first time we've had a primary debt auction out of spain since the s&p downgrade last week. we'll keep our eyes on gilts, as well. uk
, three town. president obama and mitt romney dual over foreign policy and the health of the u.s. economy in their third and final debate. made vase mire lays out her vision of yahoo! as the internet company posted better than expected third quarter figures. but burberry an lis cutting price targets. and bank of israel splaning for all sorts of eventualities among tipped tensions. . >>> on today's show, plenty to get through of course. let's remind you what's coming up. we'll discuss the presidential debate with experts one which president obama says was clearly the winner while the other thinks romney was the one who looked more presidential. we'll hear from the governor of israel stanley fisher with a live update from tel aviv. and we'll get an in-depth analysis on the latest earnings out of japan. find out what stocks our guests think is a buy at 10:30 cet. also is there more easing on the cards for the fed? we'll head out to philadelphia with the latest expectations. the fed begins its two day meeting. but first, president obama and mitt romney faced off for the third and final time b
. >> imf down grades global growth saying europe and the u.s. needs to get their finances in order or risk further weakness. >> the euro trades lower as draghi speaks in brussels. the ecb president announces proposals to deal with risks from the banking sector. >> plans to make further proposals for macro policy particularly on vulnerabilities linked to bank funding. >> angela merkel faces a tough reception in greece as protesters take to the streets. >>> and alcoa kicks off what could be subdued u.s. earnings season. third quarter results of the s&p 500 are expected to drop overall snapping 11 quarters of gains. >>> okay. good to have you back. >> good to be back. you were out, i was out, it was -- >> and i was a little worried about what you were up to, so i do admit, i had you followed. and my man, he sent me back this photograph. >> oh, no. >> that is you with the goggles, right? >> yes, that's me with the goggles. >> what's going on? >> that's my sister at the end there. so i was back at my alma mater in virginia for my college reunion. part of that was -- >> to dress up and pretend y
for joining us. good to see you. when you look at the inflation data, trade data suggests things are actually a little bit better than we might have thought. are they just one month figures? >> are you asking whether it may be a one off? >> yes. >> okay. i see. prior to the data release, we were looking for actually a stabilization of export growth in china. and given the recent improvement in the global ism and also export orders, so instead a little better than expected. and wihether or not it will extend into early next year remains to be seen. what we can try for watch for as a gauge is the trade fair that starts today. we can check out whether the export orders during this trade fair will help to extend the growth. >> so what more policy action are we going to get? >> we see today the inflation figure came in line with expect station and for the full year, the inflation probably will come in at 2.7%. also mentioned by the pboc governor during imf and the world bank meeting over the weekend. and i think the governor was emphasizing on the medium term inflation risk and the controlling inf
. and a late burst of spending by consumers is likely to boost third quarter u.s. gdp, but growth may still be too sluggish to bring down employment. welcome to today's show. the last one of the week here. and just remind you plenty to get through as we count down toward the gdp number in the u.s. we'll have an interview with the boss of jpmorgan, jamie dimon. his views on the election and his outlook on the economy. microsoft is unveiling its windows 8. we'll have the latest plus in-depth analysis at 11:45 cet from new york. at 10:20, we're heading to hong kong. big day for earnings from chinese lenders. and then at 1 ch11:50, we're in chicago and third quarter u.s. g gdp. apple corporate figures up 24%, but it missed analyst forecasts. second straight miss for the company. revenues rose 27%, slightly better than expected. apple sold nearly 27 million iphones. the iphone 5 was released at the end of the quarter, but ipad sales were well short of forecasts. apple first quarter guidance which includes the holiday shopping season also trails analyst estimates. lowist figure in around four yea
's delivering very low interest rates for us in the market at the moment. so that is the proof that there's international problems. >> the bae/eads merger, largest shareholder opposes the deal saying it would be better left as a stand alone company. >>> and angela merkel's first visit to athens since the eurozone crisis as finance ministers meet today in luxemburg. >>> very good morning to you. a new week on "worldwide exchange." and too late. if you haven't got your application in, it is too late. bank of england government job should have been in half an hour ago. so if you didn't make it, you're not going. jim o'neill wasn't applying, scott mcdonald wasn't applying either. i didn't get mine in. so never mind. stick here. also coming up, we'll be heading to new delhi to hear how undoing regulatory requirements could boost investments. details from one of the author of the quarterly cfo survey. and also president chavez is fig celebrating a hard-fought victory. if you have any thoughts, comments, whatever you like, e-mail us worldwide@cnbc.com or tweet @cnbcwex or @rosswestgate. first we
to fix the u.s. economy. waiting on spain, the ecb expected to hold steady on rates. country's president tells cnbc that europe's policymakers must remain focused. >> if we get bogged down into what was meant by the june agreements and waste time on this kind of discussions, then it's much less likely that a coherent system will emerge. >> madrid continues to put faith in the hands of private investors while finance minister heads to london to raise funds for the country's bad bank. and india's crucial services sector grows at its fastest rate in seven months, while the government gets set to take another swing at boosting it through foreign investments. thanks very much for joining me. anyone that's missing ross, he'll be back in tomorrow. but for now, you're all mine. . plenty to come on the next couple hours of the show. lots of guests to help us figure out what's going on. we'll get a view from sydney about cautious shoppers. borrowing costs are expected to fall. we'll bring you those results from madrid. and we'll head out to malaysia for an exclusive interview with the country's pr
beneficial to biden last night. not quite sure if that was true. >> what's hard for us over here is that the debate which is at 9:00 eastern time for us starts at 2:00 in the morning. so we have to wake up and try and rely on accounts. >> what is amazing to me is how warmly they greet each other and behind the smiles, they're saying i'll beat your brains out. >> we do the same thing, don't we? >> yes. this is a total act. behind it, we hate each other. fortunately, we do like our next guest, head of research at credit suisse 3r50iprivate bank. as an investor as we watch the maturation of the u.s. election campaign, what actually matters some. >> the fiscal cliff. obviously many things matter at the more detailed level, as well, but we're all worried about how that will be sorted out and the way that the white house goes, the way congress goes is pretty critical to that. >> have you heard anything from anybody that made you more comfortable, or is it just a big -- how do we price it in? >> when we talk to investor, the line we're getting is people believe that everything will be s
to carolyn roth and she joins us from zurich. what kind of mood did you find mr. dugan in ? >> he's always pretty upbeat, and he always talks business, but that's his job. the numbers for the third quarter weren't so bad. yes, on the bottom line, we did see a slight miss because net income only came in at 254 million swiss francs versus expectations of 370 million swiss francs. and that was a decline of 63% from a year ago. but after looking through analyst notes, strong investment banking revenues of 3.3 billion swing franks and that is largely driven by the strong feksed income trading which really saw a nice pick up in the third quarter. equity business still somewhat weak. the capital himself has improved and that's very crucial for the company because it was criticized heavily especially by the swing national bank over the summer and then credit suisse took the necessary steps to address the capital shortfall. and thirdly, credit suisse came out and said it's upping its cost savings target by another 1 billion swiss francs, actually the second time it's doing that this year. but i thi
of the general world economy. we see uncertainty in the u.s. and china slowing. >> bp is in advanced talks with rosneff but says no decision has yet been made. and president obama, mitt romney head into their final debate tonight as new poll shows they're now in a dead heat with just two weeks to go before election day. and plus japan records its sharpest export since last year's devastating earthquake. raising fears the world's third biggest economy could be slipping back into recession. it's the start of another week here on on "worldwide exchange." kelly is state side helping to host "squawk on the street." p meanwhile plenty to come still on today's show. here in london, protesters have been marching against austerity. one of our reporters was there. demonstrators took out their anger on multinational companies. in new york, wall street a underwhelmed as corporate giants like ge, part owner of this station, had cautious revenues. we'll pibd out if cat pill what are and yahoo! will buck the trend or affirm it pnd and obama and romney squaring off, who is likely to deliver the knockout b
i was in the u.s. for it. it did come off as dour. this one was livelier. but i don't know whether there was necessarily -- the narrative is that president obama did better than last time around. whether it was as much of a game changer i think is still up for debate. in any case, president obama and mitt romney have one more debate next week. they may have left it all out on the mat last week. they were much more confrontation confrontational, repeatedly bouncing off their schotools an over the moderator. the president accused romney of selling a "sketchy deal" to fix the economy, while romney says the middle class has been crushed under obama. >> if the unemployment rate was 7.8% when he took office, it's 7.8% now. but if you calculated that unemployment rate, taking back the people who dropped out of the work force, it would be 10.7%. >> governor romney says he's got a five-point plan. governor romney doesn't have a five-point plan. he has a one-point plan. and that plan is to make sure that folks at the top play by a different set of rules. >> both men will be back on the campa
is telling us? >> well, i think that the gdp figures you can probably putut little credence in. but the broader data is a little more positive, but i think it's a bit more premature to suggest that the chinese economy has about theed. sx port data was distorted by one offs. and domestic demand remains very weak. what this shows is that china is loosening policy over the past four to six weeks. bank loan growth particular will you off balance sheets. suggests the chinese government is stepping in. it's stepping that up now. and i think that that will continue post the november leadership handover. >> what's the impact for investors bearing in mind the shanghai stock market has been such an underperformer? >> it has been and i suggest it's a time to buy chinese stocks despite concerns about the economic outlook. valuations are cheap. valuations are around 11 times earnings. that's quite cheap. more stimulus is on the horizon post november. and you can also see structural reforms coming through. i'd be very surprised if they don't given they need to rebalance. >> what type of rest
earlier, blamed the move on the pressure on spain, but more important was the backtracking on using esm to directly capitalize the banks. >> the perceived commitment of eurozone governments to mutualize the cost of spanish bank programs have been put into question very much so and should be rejected fairly clearly by core european finance ministers. and we think this is a destabilizing factor in the country's credit outlook. so the question is what pressure that might put on its italian auction today. they're selling up to 6 billion in july btb. we did see t-bills yields edging higher for italy. has already raised, though, 80% of the 465 billion needed to fund the 12012 outstanding debt. but those auction results will be out in just over an hour's or so time. >> even for the impact on spanish bonds, when people look and wonder perhaps why there isn't more impact, it's not just because this move is largely priced in. it's also because the ownership has been transitioning to domestic. so certainly at any time a healthy development itself. >> we also have data coming out, as well, spanish
us with his thoughts on this, greg smith, managing director. thanks very much indeed if coming in. when you combine china pmi, eurozone pmi, not -- has this now all baked in the cake or what wins out, i suppose, central bank policy action or this economic data? >> still very much polarized. china, the debate rages. depending on your view there puts you in the camp of whether you're a borrower or long term buyer of equities. we're certainly in the camp china will do all they can to keep the growth level around the 7 level assuming they have the fire power to do so. a lot's been spoken about in terms of what the ecb going to do and support they're going to give and how they'll get spain and greece out of the mess. so it's a big among. >> meanwhile glencore shares are down after the news that ex-strata is backing the mega merger offer. they'll walk away with 9.6 million pounds severance pay. is the pay issue going to get resolved? >> could well be a sticking point. they've made some progress recommending the 2.8. so they're going for the 3.05. i suppose now having split the two, they
hammering out the details at a summit in brussels. julia chatterley has been there and she joins us with all of the details. and i'll just point out, it seems the only agreement is who will accept the nobel prize. >> yeah, but there's not been an agreement on how many will actually turn up to accept that prize. so that remains an open question. we did agree there would be a legal framework in place, but merkel says even that getting in place is highly ambitious. no further talk about just which backs will be eligible to be recapitalized. so questions remain. merkel suggested that there would be differentiation between the banks. some would be directly overseen by the ecb, and some would be indirectly. so perhaps no prizes for guessing where the german savings banks will fall. but we also had discussion about the idea of a eurozone budget and it looks as though based on what germany was saying, this would be proper correct based. so a more broader stabilization than they envisioned. so perhaps a bit of negotiation going on between the german and the french there. i asked the swedish prime min
extended the botox franchise to a host of other uses. the stock is up only 4%, a poor performer this year. bladder and migraine drugs i think will have a huge 2013. and ford on tuesday, the earnings have been so bad. we heard about a big restructuring from ford yesterday. taking up the costs in europe, very immediate. and greeted positively. i think it's necessary. for every step that ford takes here, it takes one step backward in europe and a half step back in latin america. the down side quantified from europe. and now the down side from south america. and the stock does have a chance to break out above let's say 11 over the course between here and the end of the year. sirius also reports on tuesday. are they done now? are they going to steal it and cap the upside? will this be mel's last conference call? mel is headed into the sunset, after being told are you nothing special. come on the show, mel, let's talk. i don't want to buy it, not without mel. wednesday morning, we get clorox. the ceo, the pattern, run up in the quarter and a sell-off, disappointing slow growth results. will it
, for best of breed i look at the product itself. is there a bank i want to go to. is it to use the great restaurateur, the one that is most hospitable to shareholders, anyway, diversification is important. it's what we're preaching. make sure you have a high yielder, growth stock, a spec -- and then you need geographically safe area for one of them. all about how to pick the best ones. i want you to be comfortable with your own portfolio. "mad money" will be right back. >> don't miss a second of "mad money." follow @jimcramer on twitter. tweet #madtweets. send an e-mail to madmoney@cnbc.com. or call 1-800-743-cnbc. miss something? head to madmoney.cnbc.com. >>> tonight i'm going to teach you a novel way to fill those slots in the portfolio. diversification and also in style and sector. it will keep you in the game, even when it feels so excruciating you don't want to continue playing, stop looking at your statement, that kind of thing and at the same time, making sure you have positions which can go much higher when times are good. what's the most important category? no question, people.
Search Results 0 to 24 of about 25

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